The Union government on 29 April submitted the names of 26 account holders of the Liechtenstein Bank in Germany to the Supreme Court.

The Union government on 29 April submitted the names of 26 account holders of the Liechtenstein Bank in Germany to the Supreme Court. Last week, the government was taken to a task by the apex court for its lethargy in the initiative on the black money case.

Media reports said that the government has handed over two shield covers containing the names of the 26 account holders in the Liechtenstein Bank. The government has procured the names from the German government. There was no proof of any wrongdoing against eight of the the 26 account holders, the government has told the court.

The government's investigation pertaining to income tax (IT) into the remaining 18 account holders has been over and further prosecution against them has taken, the government explained to the court. One among the 18 account holders has died, the government added.

However, the government insisted not to entrust the case to a Special Investigation Team (SIT). The Supreme Court had asked the government in 2011 for a SIT probe into the case.

The Supreme Court has posted the case to Thursday, 1 May.

In 2009, the government had received information about 12 trusts which have opened accounts in the German bank. The 12 trusts involve the names of the 26 Indian individuals.

The government told the court that information about the account holders can be used only for tax purpose, as per an agreement with the German government. Now it has disclosed the names of the account holders in the bank, as per the Supreme Court's order.

In July 2011, the apex court had asked the government to submit the names of the account holders in the Liechtenstein Bank.

The government's argument is that disclosure of the account holders' names would spoil India's credibility with Germany and other countries, with whom India has tax treaties.